Can you say you are responsible if,
  • You provide inferior products or services
  • You are not transparent in your working
  • You do not follow good governance
  • You evade taxes
  • You do not comply with laws, rules & regulation
Stating that you are Responsible & continuing to adopt the above practices is an oxymoron situation.
Responsibility as understood currently
  • Responsibility means being responsible to only one stakeholder which is the shareholder.
  • All returns are maximised to the benefit of that Shareholder.
  • All other Stakeholders are often short charged.
If business is not responsible
  • Sooner of later one or more than one stakeholder will revolt and cause pain to the business.
  • The efforts of the business will have to directed to pacify that stakeholder.
  • Business attention is diverted from its core function leading to gradual decline.
Instances of Stakeholder revolting against the business
  • Customer buying products from competitors
  • Customer unwilling to pay higher price
  • Vendors supplying inferior products.
  • Low productivity from employees
  • Employee attrition
  • Punitive action by Regulatory agencies
  • Environmental activism

Responsibility ensures

Business has longevity

Your business continuity is ensured

Business has relevance

Your products & services are in tune with current requirements and are always needed.

Business is sustainable

Your business has a good growth and is well funded.

Responsibility to Whom

  • Any business has multiple stakeholder
  • Stakeholders include – Customer, Vendor, Employee, Lenders, Community, Environment, Government, Media.
  • Shareholder is only one of the stakeholder.
  • Hence business needs to be perceived as Responsible by all the stakeholders.